By our economics editors
Aug 17, 2023 at 1:23 PM Update: 2 hours ago
Trading in the Adyen share was briefly halted on the Amsterdam stock exchange on Thursday. The move followed a share price loss of 25 percent. That is the largest daily loss for the payment company, which has had a listing in Amsterdam since 2018.
On Wednesday, the company released disappointing figures. Profits were 10 percent lower than in the same period last year. Turnover growth was also disappointing, as was the profit margin. Shareholders therefore wanted to get rid of their securities en masse.
After the short trading break, the loss continued to mount. At around 1 p.m., the share was down 26.6 percent.
The payment processor, which handles transactions for McDonald’s and H&M, among others, suffered from high inflation and rising interest costs. There has also been more competition and the company has spent more on wages.
“Adyen was one of the favorites with investors for a long time, the company always had very good profit margins. Now the margins are disappointing and there is a profit warning, together with disappointing figures. Investors are not waiting for that and everyone now wants to get out at the same time” , says Cees Smit, investment expert at Today’s Group.
Image: ANP
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2023-08-17 11:23:51
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